AMUN vs. MFLX
AMUN (abrdn Ultra Short Municipal Income Active ETF) and MFLX (First Trust Flexible Municipal High Income ETF) are both Municipal Bonds funds. Both are actively managed. Their 0.12 correlation means their historical movements had little consistent relationship. AMUN charges 0.25%/yr vs 0.88%/yr for MFLX.
Performance
AMUN vs. MFLX - Performance Comparison
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Returns By Period
In the year-to-date period, AMUN achieves a 1.48% return, which is significantly lower than MFLX's 1.98% return.
AMUN
- 1D
- 0.02%
- 1M
- 0.13%
- 6M
- 1.17%
- YTD
- 1.48%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
MFLX
- 1D
- -0.12%
- 1M
- -2.47%
- 6M
- 1.03%
- YTD
- 1.98%
- 1Y
- 7.47%
- 3Y*
- 5.09%
- 5Y*
- -0.88%
- 10Y*
- —
- ALL TIME*
- 1.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $21.67K | $39.49K | $71.65K | |
| $144.82K | $125.46K | $116.25K |
AMUN vs. MFLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.48% | 0.14% |
MFLX First Trust Flexible Municipal High Income ETF | 1.98% | 0.20% |
Correlation
The correlation between AMUN and MFLX is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 20, 2025 | 0.12 |
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Return for Risk
AMUN vs. MFLX — Risk / Return Rank
AMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MFLX
AMUN vs. MFLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Ultra Short Municipal Income Active ETF (AMUN) and First Trust Flexible Municipal High Income ETF (MFLX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AMUN | MFLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.41 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.49 | — |
| Martin ratioReturn relative to average drawdown | — | 9.54 | — |
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Drawdowns
AMUN vs. MFLX - Drawdown Comparison
The maximum AMUN drawdown since its inception was -0.61%, smaller than the maximum MFLX drawdown of -26.76%. Use the drawdown chart below to compare losses from any high point for AMUN and MFLX.
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Drawdown Indicators
| AMUN | MFLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.61% | -26.76% | +26.15% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.11% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.36% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.88% | — |
Current DrawdownCurrent decline from peak | 0.00% | -5.04% | +5.04% |
Average DrawdownAverage peak-to-trough decline | -0.07% | -8.09% | +8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.81% | — |
Volatility
AMUN vs. MFLX - Volatility Comparison
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Volatility by Period
| AMUN | MFLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.08% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.24% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.94% | 4.11% | -3.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.94% | 10.33% | -9.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.94% | 11.21% | -10.27% |
AMUN vs. MFLX - Expense Ratio Comparison
AMUN has a 0.25% expense ratio, which is lower than MFLX's 0.88% expense ratio.
Dividends
AMUN vs. MFLX - Dividend Comparison
AMUN's dividend yield for the trailing twelve months is around 2.13%, less than MFLX's 4.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 2.13% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MFLX First Trust Flexible Municipal High Income ETF | 4.20% | 4.06% | 3.81% | 3.65% | 4.27% | 3.69% | 3.21% | 2.94% | 3.74% | 3.80% | 0.98% |
Frequently Asked Questions
AMUN and MFLX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AMUN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMUN is cheaper with a 0.25% expense ratio, compared with 0.88% for MFLX.
MFLX has the higher dividend yield at 4.20%, compared with 2.13% for AMUN.
They also come from different issuers: abrdn and First Trust. Their fees differ too: 0.25% for AMUN and 0.88% for MFLX.
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